Unisys moves deadline for director nominations

By Lisa Kerner

Charlotte, N.C., Jan. 23 - Unisys Corp. postponed the deadline for advance notice of director nominations and shareholder proposals in connection with the company's 2008 annual stockholders meeting to 5 p.m. ET on Feb. 19.

The postponement will "facilitate discussions" with MMI Investments, LLP, according to a company news release.

Unisys said that like MMI, the company believes its shares are "substantially undervalued."

It was previously reported that MMI, with a 9.9% stake in Unisys, was frustrated with the company's "continuous stream of management, operational and financial missteps" related to Unisys' restructuring.

MMI urged Unisys to immediately begin a strategic review process focused on the "potential realization of the U.S. government business through a sale, tax-free spinoff or subsidiary initial public offering," according to a schedule 13D filing with the Securities and Exchange Commission.

Unisys is a Blue Bell, Pa., technology services company.

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